TKO/USDT Mid-term work in the channel. Wedge. Double bottom

Updated

This trading idea is a continuation of a past trading idea. Coin of one Asian exchange which is supported by Binance in every way.

The price is in a horizontal channel zone. The local downtrend has formed a wedge. The price is moving towards the zone of past channel support lows (potential double bottom).

Potential entry on a breakout or pullback after breaking through wedge resistance or from channel support levels (potential double bottom 150%). It is more rational to buy from a level rather than to a level, thereby reducing the probability of a premature entry.

Coin in coenmarket: Toko Token TKO

Past training/trading idea on this trading pair: TKO/USDT Downward wedgeWorking with the wedge

TKO/USDT Нисходящий клин. Работа с клиньями.

The formation of a tight price zone, as I showed earlier in the trading idea. Breakout of wedge resistance (downtrend)

Formation of a diamond pattern.

Over +150% from the reversal.

Note

After breaking through the wedge resistance, a Ross hook was formed above the support zone of the internal channel 1.74

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Ross Hook +30%. Rollback to the dynamic support of the local uptrend. The price is in the middle price zone of the position set in the channel.

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Trading situation now. The price is at the support zone of the internal channel.

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Price in the accumulation channel zone in its lower part. Let me remind you, this is an exchange coin.

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Reached the squeeze level of 1.27. One of the coins on which the market maker has held the channel range for now.

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Downward channel in a secondary trend. Achieved horizontal channel support zone of 1.27. A local concave bottom is forming, centered on its redemption at +36.3%

Note

TKO/USDT Основной тренд. Нисходящий канал.

SpartaBTC

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TKO/USDT Нисходящий клин. Работа с клиньями.

by SpartaBTC

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